Get a Car Loan With Bad Credit
How to Get a Car Loan With Bad Credit in Markham, Vaughan and Surrounding Area
If you have a low credit score you may be thinking it will be impossible to get a reliable car. However, car dealers can offer bad credit car loans to be sure you can get back on the road quickly and still keep your family safe. Follow these tips to see how we can help you get a loan even with a mediocre to poor credit rating.
Know Your Credit Rating
Have a good idea of any activity that lessened your score and watch for any discrepancies. Even when working with a reputable dealer like us, it helps to be knowledgeable so deals can be discussed on equal ground. Also, if there’s a logical reason for any of the blips on your credit, explain them to us and we may be more willing to work with you, no matter your score.
Consider a Shorter Termed Loan
Don’t judge bad credit car loans on your monthly payments alone. The interest rate on longer loan terms can gouge you. Instead, talk to us about accepting a shorter loan period. While your payments may be a little higher, you’ll save hundreds of dollars in the long run. You’ll also have fewer years to worry about the loan so you can start putting that money into other credit blemishes afterward.
Limit Your Financing Search to 2 Weeks
Every time you apply for credit, it negatively impacts your credit score. However, if you apply to various dealers within a 2-week timeframe, credit companies often count them all as a single inquiry, so try to limit your application period.
Buy a Newer Used Vehicle
Older vehicles often have high interest rates, so try looking at newer used cars. We offer great financing terms for these automobiles that will save you a large amount of money over time.
Just because you have a low credit score, doesn’t mean you can’t get a car. Bad credit car loans are available to get you into a vehicle that will run safely and reliably.
Ontario Auto Loan Now is located in Markham, Ontario and also serves Vaughan, Newmarket, Uxbridge, Sudbury, Peterborough, North Bay, Whitby, Oshawa, Port Perry and surrounding areas.